Sebi chief rules out removal of rolling settlement

He said the much awaited "future" trading would be in place within two months. Mehta said the National and Mumbai stock exchanges would start derivative trading tentatively by this month end.

Sebi is working on implementation of healthy corporate governance to help the investor besides enforcing quarterly disclosure norms for fund utility along with company performance report. Sebi would also press for internet trading from all stock exchanges.

Stating that foreign investment on venture capital funds would be allowed in the future, he said SEBI was contemplting to allow share of such unlisted companies to be traded in stock exchanges initially.

National Stock Exchange deputy managing director Ravi Narain in his address said that India was the only country to have experimented several intiatives to improve the working of capital market.

He said India should be prepared to face the international competition in the capital market which would happen eventually. The future market would be focused more in risk factor of the investor. The investors would more and more press for returns to equate their risk on investment, he added.

Bangalore stock exchange executive director K Kamala said with the opening of the subsidiary the stock exchange had created a new avenue for the members. With BgSE Financial Ltd in operations all members would now have the option for "multi market trading system", National stock, mumbai stock and Bangalore stock exchange trading operations. BgSE Financials would also allow set up terminals at the residence or branch office of the members against payment of a fixed amount, she said.